Connect with us

Hi, what are you looking for?

Trading Secrets

Dogecoin and Shiba Inu: Dogecoin is holding above 0.07800

Dogecoin and Shiba Inu: Dogecoin is holding above 0.07800

Yesterday’s Dogecoin price recovery was stopped at the 0.08050 level. The Shiba Inu price is in a two-day sideways consolidation in the 0.00000870-0.00000900 range.

Dogecoin chart analysis

Yesterday’s Dogecoin price recovery was stopped at the 0.08050 level. We had additional pressure in that zone from the EMA200 moving average. This led to the creation of a bearish consolidation and pullback to the 0.07740 level. We are still close to that support level but manage to stay above it. The current resistance is at the 0.07800 level, and if we do not break above, the Dogecoin price will probably fall below the morning low.

Potential lower targets are 0.07700 and 0.07600 levels. We need a positive consolidation and a move above the 0.07900 level for a bullish option. If we succeed in that, we will go further to the 0.08000 level. In that zone, we encounter the EMA200 moving average. By breaking above the price, it partially got rid of the bearish burden and could start a more concrete recovery. Potential higher targets are 0.08100 and 0.08200 levels.

Shiba Inu chart analysis

The Shiba Inu price is in a two-day sideways consolidation in the 0.00000870-0.00000900 range. Today, we are looking at movement without major movements on the chart. We are in a slight bearish consolidation, putting more pressure on the lower part of this channel. This could lead to a test of the lower support level. A long hold would lead to a breakout below and the formation of a new two-day low.

Potential lower targets are 0.00000860 and 0.00000850 levels. We need a positive consolidation to the 0.00000900 level for a bullish option. Then, we need to jump that level in order to start a further recovery on the bullish side. The EMA200 moving average is in the zone around 0.00000915 levels. Potential higher targets are 0.00000920 and 0.00000930 levels.

The post Dogecoin and Shiba Inu: Dogecoin is holding above 0.07800 appeared first on FinanceBrokerage.

Enter your email address below and we’ll send you our best practices.

    You can unsubscribe at any time. Redstatefoundation respects your privacy and strives to be transparent about our data collection practices. Please read our Privacy Policy and Terms of Use.

    You May Also Like

    Trading Life

    Laura Wong Hon Chan is an interest rate options trader, who is currently a director at Bank of America Merrill Lynch in New York....

    Trading Secrets

    In this episode of StockCharts TV‘s The MEM Edge, Mary Ellen reviews what’s driving the markets higher and what to be on the lookout...

    Trading Secrets

    SPX Monitoring Purposes: Long SPX on 10/10/22 at 3612.39; sold 12/13/22 at 3669.91 = gain 1.59%. Monitoring Purposes GOLD: Long GDX on 10/9/20 at...

    Trading Secrets

    I don’t like it when parts of a puzzle don’t match. You just don’t get a clear picture. As participants in the markets, we...